Bill ID 4446 (Legislature 18, Session 4)

L18 S4 4446

Alberta — Bills

1978 BILL PRo 1 Fourth Session, 18th Legislature, 27 Elizabeth II TlJ.E.LEGISLATIVE ASSEMBLY OF ALBERTA BILL PR 1 .

AN ACT TO AMEND THE ALBERTA WHEAT POOL ACT, 1970 MR. DOAN First Reading Second Reading __________ -, __________________________ --- Committee of the Whole ---------------------------------- Third Reading - ____________________________________ .. ____ _ Royal Assent ____________________________ . ___________ - ------- Printed by the Queen's Printer for the Province of Alberta, EDMONTON

Preamble Bill Pro 1 Mr. Doan BILL PRo 1 1978

AN ACT TO AMEND THE ALBERTA WHEAT POOL ACT, 1970 (Assented to , 1978)

WHEREAS the delegates of Alberta Whe,aJt Pool have passed resolutions requesting amendments to The Alberta Wheat Pool Act, 1970; and

WHEREAS, a petition has been presented praying that it be enacted as herein set forth and it is expedient to grant the prayer of the petition; THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows:

Short title 1. This Act may be cited as The Alberta Wheat Pool Amend- ment Act, 1978. 1970, c.117 2. The Alberta Wheat Pool Act, 1970 is amended by this Act.

Section 2 is amended by adding after clause (d): ( e) "Reserves" shall mean the earnings of the Pool which have been retained by the 'Pool and aHo'c'ated or credited to a member or members.

Section 4 is amended by repealing clause (c).

Section 5 is amended by striking out may be declared and substituting shall be declared.

Section 6 (

c) is amended by striking out under the by-laws and substituting pursuant to

section 8.

Referendum ResponsibiUty and powers of Directors Ratification by delegates 7-

Section 7 is amended by striking out On all matters and substituting In ,establishing Pool policy and 'On 'all matters. 8. The following

section is added after

section 7: 7.1 At any time the Board'S'ees fit or upon the writ ten demand 'Or petition of 10% 'Of the members or by a vote of 40% of the delegates at any regular or special meeting of the Pool a referendum 'Of the members shall be held on any matter relating to the operation or policy of the P'O'OL

Section 15 is repealed and the following substituted: 1:5. The Directors 'Of the Pool shall, as far as is practi cable, administer the affairs 'Of the Pool in accordance with policy established fr'Om time to time by the delegates and pursuant to suoh policy shall have power to do all things in their 'Opinion neces'S!ary or useful for the con duct of the business of the Pool

Section 21 is amended by striking out may only be made by Alberta Wheat Pool and substituting may be made by Alberta Wheat Pool only. 11

Section 22 is repealed.

Section 23 is amended by striking out elevator reserve and substituting reserves.

Section 24 is amended by striking out directors and substi tuting delegates.

Section 25 is repealed and the following substituted: 25. The delegates may at lany meeting ratify and vali date any acts, resolutions, payments, distribution of moneys among m.embers and any 'Other ~atters previ?usly done or dealt WIth by the delegates, dIrectors, offlcers, agents or employee'S 'Of the P.??1 o~ Alberta Po~ol ~levators Limited and upon such ratIfIcation and y.ahdatlOn they shall be'deemed to have been as lawfully and validly done as if they had been expressly authorized.

Section 26 is amended by striking out commercial and elevator. 2

Reserves held in trust Authorized reserves Limitation of action

Section 27 is repealed and the following substituted: 27. The amounts of reserves purchased pursuant to

section 26 shall be held in trust by the PQQI for the mem bers of the Pool in the proport~ons in which the members from time to time own reserves, and the interest of the members in the assets 'Of the Pool shall, on dissolutiori of the Pool, be in proportion to their ownership of the reserves 'at the time 'Of dissolution.

Section 28 is amended (

I) in subsection (1) (

a) in clause (

a) by striking out commercial and elevator, and (

b) in clause (

b) by striking out elevator and commercial re serves or either 'Of them and substituting reserves; ( 2) in subsection (2) by striking out ele¥ator andoommerci'al reserves or either of them and substituting reserves.

Section 29 is amended by striking out commercial and ele vator reserves or either 'Of them and substituting reserves.

Section 31 is repealed and the following substituted: 31.. The authorized reserves 'Of the Pool are declared to be $60 000 000, 'Or such other amount as may be authorized from time to time by, resolution 'Of the dele gates passed by at least 60% 'Of the delegates entitled to vote thereon and effective upon filing with the Clerk of the Legislative Assembly a certified oopy of such resolu tion.

Section 34 is repealed and the following substituted: 34. ( 1) The repQrt 'Of the directors on the winding up 'Or closing of any poQI 'Or pools 'Of any grain, seed or commodities marketed by the POQI shall, ~afrter the expira ,tion of 12 months after the adoption of such report by a meeting 'Of the delegates, be final, oonclusive and binding on all persons claiming an interest in the pool or pools.

(2) Neither the report nor anything in connection therewith shall be the subject matter of any action in any court brought by any person claiming an interest in the pool or pools, unless such ac,tron is brought within 12 months 'Of the adoption of the report py the delegates. 3

Liability of grain to seizure Auditor and annual return

Section 35 is repealed and the following is substituted: 35. The Po'Ol shall hO'ld ,all grain received by it from any person 'Or persons and the proceeds there'Of free fr'Om any liability to seizure or attachment by ,any creditOT of the Po'Ol, except for the purpose 'Of or 'On acc'Ount of any security held by any credit'Or who has l'Oaned money on the security of grain, or d'Ocuments or evidence of title theretO'.

Section 37 is amended by striking out commercial and ele vator. 23. The following

section is added after

section 38: 38.1 ( 1) The Board shall as early as practicable in each fiscal year appoint a charteredaeoountant to be the auditor of the Pool far that fiscal year.

(2) The appointment of the auditor shall be subject to the ratification 'Of the delegates at their next meeting.

(3) The auditor shall make an audit 'Of the bo'Oks and accounts 'Of the Po'Ol and shall prepare and file with the Board not later than Ootober 30 of each year a duly Icertified statement of accounts ,and balance sheet and shall prepare such 'Other statements 'Or reports and per fO'rm such other duties as may be required by the Board. ( 4) The Pool shall, 'On 'Or before February 1 of each year, file with the Clerk 'Of the Legislative Assembly an annual return being a 'statement of 'Operati'Ons and the IconsO'lidated financial statement 'Of the P'Ool for its last ~iscal year,certified by the auditor of the P'Ool.

(5) The Board of Directors shaH, 'On 'Or before Feb ruary 1 'Of each year, issue to ea(jh member 'Of the Po'Ol a copy of the annual oonsO'lidated 'statement for its last fiscal year, certified 'by the auditor 'Of the Pool. 24. This Act comes into force on the day upon which it is assented to. 4 Title: 1978 (18th, 4th) Bill Pr1,

An Act to Amend the Alberta Wheat Pool Act, 1970

Document details

Collection	Alberta — Bills
Citation	L18 S4 4446
Type	bill
Volume / chapter	L18 S4 4446
Language	en
Format	json
Source	PROVINCIAL
Identifier	5f71873c60b715514e18dcb2290ab20ded92eee2

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